SpaceX stock falls 11% as AI spending hits $15.8B
SpaceX stock fell as much as 11% on Wednesday after record AI investment, and an approaching share unlock overshadowed the companys stronger-than-expected second-quarter revenue. SummarySpaceX generated $7.8 billion in Q2 revenue, up 92% from a year earlier.AI-related capital expenditure jumped to $15.8 billion, compared with $749 million a year ago.Piper Sandler cut its SPCX price target to $140 from $156while retaining a Neutral rating.SPCX faces further pressure as its tradable share count could rise by more than 140%. SpaceX revenue beats Wall Street estimates SpaceX reported $7.8 billion in second-quarter revenue, exceeding Wall Street‘s estimate of about $6.8 billion. Revenue rose 92% from $4.1 billion in the same period last year, marking a strong first earnings report since the company’s June Nasdaq debut. Starlink remained the company‘s main financial engine. Revenue from the satellite connectivity business rose 66%, while SpaceX’s AI revenue increased by about 250% from a year earlier. The companys total operating loss narrowed to $143 million from $970 million, according to Reuters. However, investors focused on how much SpaceX spent to generate that growth. Total quarterly capital expenditure climbed above $18 billion, including $15.83 billion allocated to AI infrastructure. That compared with only $749 million in AI spending during the year-ago period. Finance









